UK growth dependent on international talent, says KPMGFollowing today’s publication of ‘The Growth Factory’, a report exploring ways to rebalance the economy and backed by some high profile MPs, Anna Marie Detert, director in KPMG’s People and Change advisory team, comments: Renewables set to defy M&A downturnPrivate equity and infrastructure funds are preparing to fly in the face of the downturn and kick-start an increase in deal activity in the renewable energy sector over the next 18 months Secure software developmentWith the pressures upon software development professionals to innovate, deliver more, and deliver it ever more rapidly, we believe it is becoming ever more challenging to do so while providing assurance over software security. Security Strategy and Transformation ServicesThe approach to protecting information is changing significantly. Threats and the methods attackers use are far more sophisticated and complex, and are increasingly driven by competition, business ethics and politics. Risk still climbing up CEOs’ agendaKPMG research has found that changes to business models or operations, growth and people management, were each regarded by COEs as potentially increasing their risk profile Thomson Aero sold to MB AerospaceWill Wright, Andy McGill and Mark Orton of KPMG, joint administrators of Thomson Aero. Limited, announced today that they have sold the business to MB Aerospace Limited. KPMG Administrators Appointed to McNulty OffshoreMcNulty Group Holdings and its subsidiaries, McNulty Offshore Construction Ltd and Consafe Engineering Services Ltd, appointed Mark Firmin and Howard Smith of KPMG’s restructuring practice as joint administrators on 24th of February 2012 The Power of Procurement - The Key Role of TechnologyThe seventh video in a short series looking at the key themes arising from this survey discusses the current role of Technology in the Procurement function, and suggests ways in which technology can be used more effectively. The Power of Procurement - Going beyond cost savingsThe third video in a short series looking at the key themes arising from this survey discusses how procurement can stretch beyond cost savings to take on more strategic responsibilities such as demand management. Boom time for fraudsters as “austerity bites”The total amount of fraud in 2011 topped £3.5 billion – a record year – according to KPMG’s Fraud Barometer, as Britons across the country continue to struggle with tough economic conditions KPMG sells Bonmarché to Sun European PartnersAdministrators from KPMG were appointed to Bonmarché, the clothing retailer, on Friday 20th January. The administrators immediately sold 389 stores, and its headquarters, to Sun European Partners Hitting a BRIC wallSubstantial corporate value is currently held in Joint Ventures (JVs) in the BRIC countries (Brazil, Russia, India and China) among other emerging markets. Past Times Enters AdministrationHoward Smith, Mark Firmin and Joff Pope of KPMG’s Restructuring practice were appointed joint administrators to gift retailer Past Times on 16 January 2012. MF Global UK Limited: administration updateThe Joint Special Administrators of MF Global UK Limited, have released an update following the creditors' meeting on the progress made in the special administration to date. La Senza UK sale saves 1,100 jobsRichard Fleming, David Standish and Rob Croxen, restructuring partners at KPMG, were today appointed joint administrators to La Senza UK. Following their appointment they completed an agreement to sell part of the business to Alshaya UK Limited Ring-fencing retail banks: no turning backThe UK Government announced that it will implement the Independent Commission on Banking (ICB) recommendations as the "most far-reaching reform of British banking in our modern history". MF Global UK Limited: administration updateThe Joint Special Administrators of MF Global UK Limited, today release their latest administration update, which includes an update on positions closed and client and creditor claims forms received to date. Conflict MineralsSection 1502 of the recently passed Dodd-Frank Act (2010) (the "Act") will require SEC listed issuers to disclose their usage of certain minerals sourced from the Democratic Republic of Congo and its neighbours (the "DRC Countries"). MF Global UK - What is a Special Administration?MF Global UK Limited is in special administration under The Investment Bank Special Administration Regulations 2011. This is the first time a company has been placed into special administration under the Special Administration Regs. MF Global UK Limited: administration updateRichard Fleming, Richard Heis and Mike Pink of KPMG LLP, the Joint Special Administrators of MF Global UK Limited, have announced today a timeline for the return of client money and client assets. MF Global UK - Table of liquidated trades and positionsBased on information received from the following exchanges and clearing houses, open trades and positions of MF Global UK Limited (in special administration) have been liquidated, with effect from the corresponding dates listed The Power of ProcurementKPMG, in association with CPO Agenda, has conducted an in-depth survey of 585 Procurement functions across the globe. Administrators appointed to MF Global UK LimitedUpon the application of the directors of MF Global UK Limited, the High Court has today appointed Richard Fleming, Richard Heis and Mike Pink of KPMG LLP as joint special administrators of MF Global UK Limited, a UK based broker-dealer business. Sustainable Cost Efficiency- CFO MindmapIn today’s economic environment, most organisations are seeking to create clear water between themselves and the competition, and are looking at where they can release cash to fund topline growth. Restore 07 - The turnaround magazineIn a look at the current major global factors affecting restructuring, KPMG in the UK’s Jonathan Coltman argues in the latest edition of Restore magazine that businesses should take steps to enhance their ability to cope with the unexpected. Accelerate College EfficienciesThe Accelerate College Efficiencies (ACE) process provides an opportunity for colleges to investigate how they may be able to realise significant cost and operational efficiencies. Meeting the tax challengeIn a time of significant change for Academies and the Education Sector as a whole, getting the right support is crucial. Xantus has joined KPMGWe are delighted to announce we have acquired Xantus, one of the leading management consultancies in the UK specialising in CIO advisory services.
Dramatic drop in average UK PE deal sizeThird quarter management buyout activity has seen a dramatic drop in the average size of deals to £80m; compared with £140m in the second quarter of 2011 and comparable with the first quarter of 2009 Troubled TimesFrom the financial crisis to natural disasters, management teams are making decisions against a backdrop of volatility and uncertainty. KPMG launches aeroinv.comThe joint administrators of Aero Inventory have announced today the launch of aeroinv.com, a multi-hundred-million dollar aircraft parts ecommerce business. Retail Bonds – an alternative funding sourceRaising funds in the retail bond market allows companies to diversify funding sources to reduce reliance on current lenders or develop a new strategic financing base where concerns may exist as regards the longer term outlook for capital markets. Identifying a fraudster in a companyRichard Powell, KPMG Major Projects Advisory UK Lead, Risk & Compliance Partner, discusses KPMG’s latest global survey findings on BBC Radio Five Live, Wake Up to Money. Lack of cost consciousness threatens UK firmsUK firms have failed to create a culture of cost consciousness within their organisations despite three years of cost-cutting and uncertainty – threatening to reverse the savings made during recession Zombies - the living dead‘Zombie’ companies – businesses with low or no profitability and who are unable to generate sufficient cash flow to repay borrowings – are an increasing problem, according to KPMG Restructuring’s latest research. IT Risk Management ServiceRisk and opportunity are two sides of the same coin. Done well, IT risk management can help you achieve your objectives – reinforcing the value of IT to the business. The death of cash?I own a rather nice blue 1973 Bristol 411 saloon car. It is my only car, is in pretty good condition and when working well, it is a real joy to drive. I was shocked to read in March that Bristol Cars had gone into administration. Five key recommendationsOur report provides some key recommendations on how to embed sustainable cost efficiency and encourage a cost conscious workforce, and offers 10 questions to ask yourself to assess your degree of cost maturity. Embedding a cost cultureOur report provides some key recommendations on how to embed sustainable cost efficiency and encourage a cost conscious workforce, and offers 10 questions to ask yourself to assess your degree of cost maturity. The Cost BoomerangOur report provides some key recommendations on how to embed sustainable cost efficiency and encourage a cost conscious workforce, and offers 10 questions to ask yourself to assess your degree of cost maturity. Asian M&A: change the model or flip a coinKPMG’s global M&A study ‘A new dawn’ found deals are no longer guaranteed to add or maintain value; 40% of ASPAC (Asia-Pacific) deals fail, with a further 20% of only neutral value to acquirers. A new dawn: Good deals in challenging timesKPMG’s sixth global M&A survey focuses on acquisitions completed between January 2007 and July 2009. Many expected this to be a challenging period for doing successful deals, but for some buyers the recession was an opportunity for them to be successful. Evolving Investment Management RegulationThis report was developed by KPMG’s network of regulatory experts. The insights are based on discussions with our firms’ clients, our professionals’ assessment of key regulatory developments and through our links with policy bodies. The refinancing wallAs the challenging wall of refinancing continues to cause concern to businesses and financial institutions, we have produced a piece of thought leadership which considers the different circumstances and challenges across the world. Who is the typical fraudster?Company bosses including those working within the chief executive or managing director’s offices are increasingly committing more fraud, according to a global KPMG survey. KPMG's top 10 tips for defending against cyber attackRecent headlines about cyber attacks leading to data loss serve as a timely reminder of the danger posed by ever more sophisticated ‘hackers’, with ever changing motives. Here are KPMG’s top 10 tips for defending an organisation:
So You Want to Take the IPO Road?Are you considering taking an IPO journey? For many entrepreneurs and private equity firms, an Initial Public Offering (IPO) is an objective in and of itself. For others, it offers a significant opportunity for growth and public awareness. Forensic Accountant Issue 36 Spring 2011Welcome to the Spring 2011 edition of Forensic Accountant, KPMG's magazinr exploring some of the issues currently impacting the litigation and dispute resolution landscape. Basel 3 Advisory and ImplementationThe Basel 3 framework introduces another major change in capital/liquidity standards. Firms must engage with Basel 3 as soon as possible to put themselves in the best competitive position in the new post-crisis landscape. Are you onboard? KPMG can help. How to make cuts without impacting front line servicesThe brunt of public sector cuts are being felt in non-core services and in the back office. If all services have been critical in past how can they be cut and where do you start? Jacky discusses how to make cuts without impacting front line services. How to Deliver Technology for LessThe inherent costs involved in technology are huge so what can be done about them, what are the questions to ask to get there and where can the biggest transformation opportunities be found? Get a grip on your financesFinancial grip in public sector is now, more than ever before, critical. The need to deliver more for less and the pressure of providing absolute visibility in doing so is a huge challenge. Does your organisation need to get a grip? The Morning AfterThe deal environment has changed significantly in recent years. A greater number ofacquisitions are now subject to an auction process. CIPD/KPMG Labour Market Outlook SurveyThe quarterly KPMG/CIPD Labour Market Outlook aims to offer an early indication of future changes to the labour market around recruitment, redundancy, migration and pay intentions. Uncertainty is the only predictionRecent events show how hard it is to predict the future and using what happened in the past to manage risk can no longer be relied on, argues KPMG’s head of risk and compliance, Adam Bates. Technical Practices Survey 2010Now in its fifth year, our Technical Practices Survey continues to be highly regarded by individuals, companies and indeed other consultancies as a guide to the range of practices adopted in various areas of UK life actuarial work. Paying the Price for RecessionWe conducted independent, anonymous opinion research among 200 UK-based senior decision-makers on pricing during the recession and their future strategies. This report sets out the findings from our research. Future StrategiesEven as organisations understand the need to re-align pricing and are keen to introduce premium priced products or variable pricing, there is not a great deal of confidence in being able to execute such strategies. The Wrong CustomersThe research also shows that many business leaders cannot identify who their most profitable customers are, and do not have the information available to understand the impact of price changes on demand patterns. The Impact of Unsustainable PricingWhilst business leaders recognise that current price levels are not sustainable, they also recognise that downturn discounting has re-set the price baseline for consumers, who are now unwilling to pay more. Race to the BottomNot surprisingly, firms reacted very quickly to the financial crisis and went in to near-panic mode, discounting prices across the board without fully understanding the impact on demand or profitability. Asset Management Valuation AdvisoryAs the investment management universe grows in size and complexity, banks and investment firms need to meet the challenge of valuing assets that are difficult to value - particularly asset-backed securities Restructuring NewslettersOur client updates and sector foresights provide news and expert views on restructuring issues and key sectors. To join the mailing list please contact your usual KPMG contact or email nicola.crew@kpmg.co.uk
Legal Entity Rationalisation (LER)We help clients implement an optimised legal entity structure more aligned with the business by reducing the number of legal entities and reorganising the legal entities in the group structure AB&C = Anti-Bribery and CorruptionEnsuring that companies have anti-bribery and corruption (AB&C) compliance programmes in place can assist them in turning this risk into advantage by helping them to build a sustainable business. Regulatory Expert WitnessesWe can assist with disputes involving regulatory issues such as conduct of business, management arrangements, systems and controls, and misselling of financial products. Insurance Expert WitnessesWe have provided expert evidence and testimony in many insurance and reinsurance disputes including coverage issues, claims assessments and accounting, actuarial and tax issues. Financial Products Expert WitnessesWe have significant experience of accounting, performance measurement, valuation and systems and controls issues involving a variety of complex financial products. Banking Expert WitnessesWe can assist with a range of technical accounting and auditing issues relating to banks and other retail credit institutions. Actuarial Expert WitnessesWe can help with actuarial issues in dispute including reinsurance and reserving in the life and non-life industries, as well as with transfers of insurance and reinsurance business. Being the Best 2 - Thriving Not Just SurvivingA CFO Research Services study for KPMG International, showed that improved forecasting, planning, budgeting and investor relations are just some of the areas in which many corporates now accept Adequate Procedures Report -'Blessing in Disguise'Summary of Key Messages. The 2010 Bribery Act is one of the most draconian laws of its kind. A commercial organisation is now liable for the activities of associated third parties as well as those of its own staff ProcurementIs procurement delivering real competitive advantage for your organisation? We focus on delivering tangible savings and adding true value to our clients' businesses. Certification and Assurance ServicesCertification assurance services. KPMG Audit Plc is accredited by the United Kingdom Accreditation Service (UKAS) and itSMF to provide formal certification against ISO 27001 Life in the Insurance SectorWhy has the life sector been particularly badly affected by the financial crisis? The answer lies in the triple whammy of asset, liability and demand pressures | 